Ruth Alexander
speaker
4,250 appearances
120 recordings
1 series
first heard Jan 2011
last heard Aug 2018
Ruth Alexander’s voice in public audio — every appearance, attributed to the second.
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Appearances
And this policy, while sort of on the face of it might sound quite sensible, it's basically seen as a way wealthy foreigners can avoid contributing to the British tax system.
They have their money in offshore trusts that can't be got at by the taxman.
And it just seems to some people that that's really unfair.
Well, even that isn't absolutely set in stone.
It's estimated that this year 116,000 people will claim non-DOM status.
There are many more people, though, who could claim it, but most don't earn enough to make it worthwhile or only claim it in a particular year when they've got a big tax bill because they've sold a big asset.
But this year's 116,000 registered non-DOMs.
That's about double the number there was about 12 years ago.
A Treasury report then looking into the issue said there were 65,000, so we're doubling.
Well, there's been a trend in the last few years for the global rich, as we know, to move to London and weather the international economic storms from the UK.
And also there's been a lot of publicity in recent years.
So more people are just now aware that this is something they could do.
There was a bit of a drop off when the levy, the up to £90,000 levy was brought in a few years ago, though.
It's really difficult to know.
No one knows.
Labour believes the net impact would be to raise an extra £700 million a year for the exchequer.
But that works out as only a few thousand pounds each.
So it's not a big number.
And they can't even say that for sure.
I mean, if you think about it, being a non-dom is not just about ticking the right box on your tax return.
Showing 561–580 of 4,250 · page 29 of 213
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